There are a plethora of reasons as to why any student will want to study accounting course within the USA. It is to be noted that the reasons even more multiply for the Indian students intending to study abroad accounting within the USA. But before going deeper into the specific reasons for the Indian students to apply for studying accounting in the USA, it would be more important to discuss the accounting as a subject. This will ensure that the students before deciding upon the choice of accounting as a specialised subject must understand whether they will be able to take up accounting as a subject or not.
So, this will ensure that their funding or investment to be made in future within the USA will not go in vain and they really will be able to grasp the accounting as a subject and subsequently will be able to qualify as a successful professional accountant post the pursuance of the accounting course in the USA. So, accounting as a separate base of systematised knowledge denotes a holistic collection of method to measure, process as well as share financial information about a business or a corporate entity. So, in simple sense, accounting is nothing but recoding the daily transactions of a business or non-business entity in a systematised manner under definite formats so that the correct state of financials that is position and performance of the entity can be determined at the end of a financial year.
This proper accounting ensures that the financial information of the company gets communicated to the users of such financial statements under proper format so that the comparability amongst the financial statement can be maintained in an effective manner. So, these are the basics of accounting that the students intending to take up accounting under the bachelor degree have to go through before they qualify their undergraduate examinations in any country.
So, as mentioned above, there are a wide range of reasons as to why any Indian student will want to study accounting within the USA. The first reason why an Indian student want to study the accounting in the USA is that there are a lot of different types of accounting courses that are offered in the USA by all the prominent universities in the USA under both undergraduate as well as post graduate courses such as the cost accounting, tax accounting, forensic accounting, managerial accounting, auditing and many more. This is why the students after becoming graduates from the top universities of the USA are able to join different career option in the USA as well as all around the world. It is to be noted that many of these courses as a separate honour’s degree is not at all provided by many different and prominent Indian universities at all. It is to be noted that accounting is one such subject or profession that is required in almost in all different fields or study areas which are known to mankind.
For instance, a hospital, a space research organisation or even an arts gallery or a history college will be requiring an accountant to maintain its accounts and financial papers. This is also to be noted that USA is one such country which is vastly industrialised and highly developed country with loads of different types of industries and organisations that require a considerable volume of accountants. According to the U.S. Bureau of Labor Statistics or the “BLS”, the country of the USA generates at least 136,400 new accountant related job openings every year. So, the different types of accounting graduates are easily able to secure a high paying accounting job in the USA immediately after becoming graduates in the USA owing to this high degree of demand for professional accountants for study in the USA. The USA as per the BLS generates at least 8% new accountant’s job each year. This is why an Indian student greatly desires to apply for an accounting course in any one of the universities in the USA.
It is to be noted that there is other plethora of reasons as to why any Indian student might want to apply for an accounting course in the USA. The first eminent reasons are that the students post becoming graduates from the relevant accounting courses are able to enrol for the quality of other professional courses provided in the USA such as the CFA, CPA, CS and other relevant degrees in the commerce and accounting field. It is to be noted that not only the undergraduate as well as postgraduate degrees offered by the universities of the USA are internationally recognised, but also, the relevant professional degrees as mentioned above are globally recognised. This means that the holder of these academic as well as professional degrees can apply for an accounting or company administration related jobs in any part of the world including India where these holder of USA degrees are given special references or attention in the job market related to accounting or top finance related job in top companies across the world.
It is to be noted that the other reasons as to why any Indian student would want to apply for an accounting course in the USA starts with the fact that the USA have numerous prominent universities that provides these wide plethora of accounting courses to the international students especially the students from India such as the “King’s College” located in Pennsylvania followed by “University of Tampa” located in Florida, “Saint Martin’s University” located in Lacey, USA and many more. It is also to be noted that these universities or higher educational institutions offers a world-class learning experience to the students equipped with world-class accounting faculty and learning amenities that the Indian students might not be able to get under any public university located across India except for a few private universities charging huge amount of money. Above all, these universities in the USA have direct strategic partnerships with big and renowned organisations and business entities which either selects fresh quality minds from the campus recruitments or provides internship opportunities to the students that duly adds up to the resume of the students which will immensely assist them in the job market.
It is to be noted that these high flying educational and placement opportunities with prominent and high paying business entities partnered with these universities may not be available to the Indian students studying in any Indian business school or university. Finally, access to high paying accounting jobs could be yet another reason for studying accounting the USA where average starter salary package in the big 4 starts around $85,000 a year. So, these are the reasons as to why Indian student would like to apply for an accounting course in the USA.
The popular undergraduate courses in accounting may include a “B.A. degree in Accounting” by the “Saint Martin’s University” followed by “B.Sc degree in Accounting” by the “University of Tampa”, “Bachelor of Science in Business Administration in Accounting as a major” by the “King’s College” and many more. The popular master degree in accounting courses is offered by the “University of Pennsylvania” in “MBA Accounting”, “Columbia University” in “M.Sc in Accounting and Fundamental Analysis”, “University of Michigan” in “Master of Accounting” and many others.
All undergraduate courses in accounting are of four years in duration.
All graduate courses in accounting are of three years in duration.
All postgraduate courses in accounting are of two years in duration.
The average tuition fee cost for the undergraduate courses in accounting within the USA ranges between USD31,000 to USD55,000 which is around INR24,61,065 to INR43,66,406.
The average tuition fee cost for the graduate courses in accounting within the USA ranges between USD28,000 to USD50,000 which is around INR23,02,538 to INR41,11,675.
The average tuition fee cost for the postgraduate courses in accounting within the USA ranges between USD54,000 to USD82,000 which is around INR44,40,609 to INR67,43,147.
The cost of living in the USA is way more as compared to the cost of living in India owing to USA being a developed country. It is to be noted that share rental in the USA will be costing around INR38,261 per month. The average grocery cost for a student in the USA will be around INR22,957 a month. The average electricity cost in the USA would be around INR7,652 per month. The public transport cost in the USA would be around INR7,652 a month and many more.
The prominent scholarships include “Master of Science in Accounting Scholarship” provided by the “New York University” where a maximum of USD10,000 is offered to the students followed by the “John School Scholarship” offered by the “Cornell University” where the scholarship for study abroad award ranges between USD5,000 to USD10,000 depending upon the economic condition and merit of the student and many more.
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There are many accounting courses offered in the USA, and the best one for you will depend on your individual needs, interests, and career goals. Here are some of the top accounting courses in the USA:
Yes, accounting is a good major in the USA for several reasons.
First, the demand for accountants is high and continues to grow. According to the Bureau of Labor Statistics (BLS), the employment of accountants and auditors is projected to grow 10 percent from 2020 to 2030, which is faster than the average for all occupations.
Second, accounting offers a variety of career paths. Accountants can work in public accounting firms, government agencies, corporations, non-profit organizations, and many other industries. They can specialize in tax, auditing, financial reporting, management accounting, or other areas of accounting.
Third, accounting can lead to a rewarding and lucrative career. According to the BLS, the median annual wage for accountants and auditors was $73,560 in May 2020. This can vary depending on the level of education, certifications, and experience.
